Brazil's BM&FBovespa exchange operator raises 2016 capex outlook

SAO PAULO Dec 10 (Reuters) - BM&FBovespa SA,
Latin America's largest exchange operator, on Thursday raised
its investment target for 2016 by about 20 percent to 200-230
million reais ($50-60 million), citing a new timeline and budget
for its main projects.

A year ago, BM&FBovespa had estimated investments in 2016 of
165-195 million reais. The company said on Thursday that about
40 percent of its investments are exposed to Brazil's foreign
exchange rate, which has swung more than 30 percent this year.

The exchange operator said its expenses in 2016 will be in
the range of 640-670 million reais, adjusted for depreciation,
amortization, stock options, fees and provisions.

BM&FBovespa also announced a new year-long share buyback
program of up to 40 million shares.

The company's board of directors named Antonio Carlos
Quintella to replace André Esteves on the governance committee.
Esteves, the founder of investment bank BTG Pactual SA
, was arrested on Nov. 25 in a corruption scandal.